Non-Climate-Controlled Mini Storage
For Sale
Contact for pricing
4015 Roberts Road, Island Lake, IL 60042
Operating storage facility with 258 units and strong occupancy, plus excess Route 176 frontage for signage and growth.
Property Size32,800 SF
Lot Size5.39 Acres
Price / SF$110.52
Days on Market101
Property Features for 4015 Roberts Road
General Information
Standard status
Active
Size
32,800 SF
Lot size
5.39 Acres
Property subtype
Self Storage
Occupancy
93%
Investment Type
Value Add
Net Operating Income
$195,971
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Building Details
Year Built
1996
Year Renovated
2000
Units
258
Tenancy
Multi
Listing Agency:
Grandstone Investment Sales
Listed By:
Meir Perlmuter · License #BK3443325
Source:
Crexi
Added: May 28
Changed: Aug 23
Last Checked: Sep 3 at 6:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grandstone Investment Sales
Investment Insights
Based on property information with market context.
Roberts Road Mini Storage is a self-storage facility offered for sale featuring 258 non-climate-controlled storage units totaling 32,800 net rentable square feet. The property is situated on approximately 5.39 acres and is currently operating at 93.75% physical occupancy and 87.31% economic occupancy. The site also has excess frontage along Route 176.
The facility is located at 4015 Roberts Road in Island Lake, Illinois. Grandstone Investment Sales notes that there are no competing self-storage facilities within a one-mile radius. The Route 176 frontage provides an opportunity for improved signage and potential future expansion on the site.
For investors and operators, the property presents a value-add framework built around in-place occupancy and operational improvements. The offering highlights rental rate optimization, potential implementation of ancillary income, and the use of professional management. With the additional signage opportunity tied to Route 176 frontage and future expansion potential on site, the facility is positioned for continued performance within its current operating base.
The facility is located at 4015 Roberts Road in Island Lake, Illinois. Grandstone Investment Sales notes that there are no competing self-storage facilities within a one-mile radius. The Route 176 frontage provides an opportunity for improved signage and potential future expansion on the site.
For investors and operators, the property presents a value-add framework built around in-place occupancy and operational improvements. The offering highlights rental rate optimization, potential implementation of ancillary income, and the use of professional management. With the additional signage opportunity tied to Route 176 frontage and future expansion potential on site, the facility is positioned for continued performance within its current operating base.
Key Highlights
- 258 non‑climate‑controlled storage units totaling 32,800 net rentable SF
- Operating at 93.75% physical occupancy and 87.31% economic occupancy
- Located on approximately 5.39 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$284,888
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,697,760
$5.7M
Cap Rate 7%
$4,069,829
$4.1M
Cap Rate 9%
$3,165,422
$3.2M
Market Conditions
NOI Build-Up for 32,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$433.0K $13.20/SF
− Vacancy
−$26.0K −$0.79/SF
EGI
$407.0K $12.41/SF
− OpEx
−$122.1K −$3.72/SF
NOI
$284.9K $8.69/SF
Area
Lake County, IL
Vacancy
6.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,697,760
Cap Rate 7%
$4,069,829
Cap Rate 9%
$3,165,422
Alternative Uses
Best Use
Self Storage
$4.07M
$3.56M – $4.75M
NOI $284,888 @ 7.0% cap · market cap 7.86%
Second Best
Industrial
$2.02M
$1.76M – $2.35M
NOI $141,193 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$11.32M
$9.91M – $13.21M
NOI $792,704 @ 7.0% cap · market cap 21.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 60042, IL
8,433
Population
3,263
Households
2.6
Avg Household Size
41
Median Age
27%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
1,833
Density / Sq Mi
$94,613
Median Household Income
$46,306
Median Earnings
$1,826
Median Rent
$244,000
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Operating storage facility with 258 units and strong occupancy, plus excess Route 176 frontage for signage and growth.
Where is this self storage facility located?
The property is located at 4015 Roberts Road Island Lake, IL.
What is the asking price?
The asking price for this property is $3,625,000.
What are key features of this property?
This property features: 258 non‑climate‑controlled storage units totaling 32,800 net rentable SF; Operating at 93.75% physical occupancy and 87.31% economic occupancy; Located on approximately 5.39 acres
